Michigan Laws 125.990k – Expiration of qualifying period; special meeting to approve new zone plan; notice
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 125.990k
- Assessable property: means real property in a zone area other than real property exempt from the collection of taxes under the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 125.990
- Assessment: means an assessment imposed under this chapter against assessable property for the benefit of the property owners. See Michigan Laws 125.990
- Board: means the board of directors of a business improvement zone. See Michigan Laws 125.990
- Business improvement zone: means a business improvement zone created under this chapter. See Michigan Laws 125.990
- Property owner: means a person who owns, or an agent authorized in writing by a person who owns, assessable property according to the records of the treasurer of the city or village in which the business improvement zone is located. See Michigan Laws 125.990
- Qualifying period: means the period in which a business improvement zone is authorized to operate and impose and collect assessments, beginning on the date that the business improvement zone is approved by the property owners voting on the question as provided in section 10f and ending 7 to 10 calendar years after that date as determined in the petition described in section 10c. See Michigan Laws 125.990
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Zone plan: means a set of goals, strategies, objectives, and guidelines for the operation of a business improvement zone. See Michigan Laws 125.990
(1) Prior to the expiration of any qualifying period, the board shall notify the property owners within the business improvement zone of a special meeting by first-class mail at least 14 days prior to the scheduled date of the meeting to approve a new zone plan for the next qualifying period. Notice under this section shall include the specific location, scheduled date, and time of the meeting and shall include a statement that a property owner of residential real property within a business improvement zone may seek a homestead deferment for an assessment under this act in the same manner as provided in section 4 of 1976 PA 225, MCL 211.764.
(2) Approval of the new zone plan at the special meeting by more than 60% of the property owners of assessable property voting at that meeting constitutes reauthorization of the business improvement zone for an additional qualifying period, commencing as of the expiration of the qualifying period then in effect. If the new zone plan reflects any new assessment, or reflects an extension of any assessment beyond the period previously approved by the city or village in which the business improvement zone is located, the new or extended assessment shall be effective only with the approval of the governing body of the city or village.